Real Estate Agent Arrested for Rs 29.5 Lakh Fraud in Mumbai

Mumbai, January 3 (PTI) - A real estate agent has been arrested by the Dahisar Police in Mumbai for allegedly cheating a chartered accountant of Rs 29.5 lakh through a fraudulent flat sale, as reported by the police on Saturday.

While Deepak Kirit Shah was arrested, his co-accused, Rajesh Jain and Aditya, are still at large, according to a police official. The complainant, Hitesh Mansukhbhai Gondvilya, a resident of Dahisar and a chartered accountant, was looking for a residential property as he was living in a rented flat.

During his search, Gondvilya came across an online advertisement for a flat priced at Rs 1.05 crore. After contacting the number mentioned in the advertisement, he was invited to visit the flat in the Rawalpada area by a man who identified himself as Aditya. Gondvilya and his father visited the flat and decided to buy it.

Aditya introduced Gondvilya to Deepak Kirit Shah and Rajesh Jain, claiming that Jain was the owner of the flat and Shah was the broker handling the transaction. Gondvilya allegedly paid Rs 29.55 lakh as part of the consideration. He planned to raise the remaining amount through a bank loan after the registration of the sale agreement.

However, the accused began to postpone the registration on various pretexts and started avoiding Gondvilya. Suspicious, Gondvilya checked the flat's ownership details at the tehsildar's office. He was shocked to discover that the flat belonged to another person and that the accused had provided him with forged documents by replacing the original owner's photograph with that of Jain.

After lodging a complaint with the police, Shah was arrested, and a search is ongoing for the other two men, the official said. This incident highlights the need for buyers to be cautious and verify all documents thoroughly before making any payments or commitments in property transactions. Real estate fraud can be a complex and serious issue, often involving forged documents and misleading information, which can result in significant financial losses for unsuspecting buyers.